Rogers Cuts 300 Jobs Across Canada

Rogers Layoffs

First Posted: 03/29/2012 11:52 am Updated: 03/29/2012 5:37 pm


Rogers Communications Inc. says it is laying off about 300 employees across its operations.


Company spokeswoman Patricia Trott says the cuts are focused on management and head office positions. Employees were notified on Wednesday.


Trott said the layoffs were intended to "better focus our resources and reduce costs and improve productivity."


"We obviously want to look at ways to build a stronger more successful company that delivers value for our customers and our shareholders," she said.


Rogers is the country's largest telecom company with assets that include cable, Internet and broadcast TV assets like Citytv and Sportsnet.


It also owns a slate of print magazines including Maclean's and Chatelaine.


In February, the company raised its quarterly dividend 11 per cent to 39.5 cents as it reported stronger fourth-quarter profits.


Net income for the period was up eight per cent to $327 million, or 61 cents per diluted share from the same period ended Dec. 31 a year earlier.


Late last year, Rogers and Bell Canada teamed up on a $1.07-billion bid for a majority stake in the country's biggest sports franchise company, Maple Leaf Sports & Entertainment.


CANADA'S HIGHEST-PAID CEOs IN 2010 (NOTE: FIGURES IN ABOVE SLIDESHOW ARE FOR 2011)
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  • 10: Jonathan Henry, Gabriel Resources $11.7M

    Gabriel Resources is a Toronto-based company focused primarily on a gold excavation project in Romania. <i>Note: An earlier version of this gallery reported that Gabriel Resources' 2010 revenue was $448 million. <a href="http://globeinvestor.sympatico.ca/invest/investSQL/sym.company_prof?company_id=160018" target="_hplink">It was, in fact, $448,000, according to publicly listed data</a>. A company spokesperson says the resource firm was in a period of pre-production in 2010, and did not generate revenue. Thus, Henry's compensation of $11.7 million exceeded the company's revenues for the year.</i>

  • 9: Gordon Nixon, RBC $11.9M

    Royal Bank of Canada (RBC) is the largest financial institution in the country. Henry's total pay of $11.9 million was the equivalent of 0.1 per cent of the company's $10.3 billion in 2010 revenues.

  • 8: Stephen DeFalco, Nordion $13.1M

    Nordion is an Ottawa-based health sciences company that specializes in medical isotopes. DeFalco's total pay of $13.1 million was the equivalent of 5.1 per cent of the company's $256 million in 2010 revenues. DeFalco left the CEO position in 2010.

  • 7: Steve Laut, Canadian Natural Resources $13.1M

    Canadian Natural Resources Ltd. is a Calgary-based oil and gas exploration company. Laut's total pay of $13.1 million was the equivalent of 0.08 per cent of the company's $14.6 billion in 2010 revenues.

  • 6: Richard Waugh, Scotiabank $13.8M

    The Bank of Nova Scotia is the third largest bank in Canada. Waugh's total pay of $13.8 million was the equivalent of 0.06 per cent of the company's $23.8 billion in 2010 revenues.

  • 5: Martyn Konig, European Goldfields $14.8M

    Despite its name, European Goldfields in a Canadian-based company, operating out of the Northwest Territories. Konig's total pay of $14.8 million was the equivalent of 29.1 per cent of the company's $50.7 million in 2010 revenues.

  • 4: Edward Sampson, Niko Resources $16.5M

    Niko Resources is a Calgary-based oil and gas exploration company operating fields mostly outside Canada. Sampson's total pay of $16.5 million was the equivalent of 3.6 per cent of the company's $455 million in 2010 revenues.

  • 3: Siegfried Wolf, Co-CEO, Magna $16.5M

    Southern Ontario-based Magna International is North America's largest car parts manufacturer. Wolf's total pay of $16.5 million was the equivalent of 0.07 per cent of the company's $24.2 billion in 2010 revenues. Wolf stepped down as co-CEO in 2010.

  • 2: Donald Walker, Co-CEO, Magna $16.7M

    Southern Ontario-based Magna International is North America's largest car parts manufacturer. Walker's total pay of $16.7 million was the equivalent of 0.07 per cent of the company's $24.2 billion in 2010 revenues.

  • Frank Stronach, Magna $61.8M

    Southern Ontario-based Magna International is North America's largest car parts manufacturer. Stronach's total pay of $61.8 million was the equivalent of 0.26 per cent of the company's $24.2 billion in 2010 revenues.

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Filed by Daniel Tencer  |